U.S. Treasury Secretary Timothy Geithner urged Europe on Tuesday to strike a balance between tough fiscal reforms and financial support for troubled member states ahead of two crucial EU summits to resolve the bloc’s debt crisis. Get the full story »
Inside these posts: Tim Geithner
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Geithner: Mortgage costs to rise with reform
Treasury Secretary Timothy Geithner said on Tuesday that future mortgage costs likely will be “modestly higher” after reforms are completed to the national housing finance system. Get the full story »
Geithner says China needs faster yuan rise
China’s yuan currency remains “substantially undervalued” and it is in Beijing’s own interest to let it appreciate more rapidly to ward off inflation risks, U.S. Treasury Secretary Timothy Geithner said on Wednesday. Get the full story »
Geithner urges quick resolution of tax cut issue
Treasury Secretary Timothy Geithner says the administration remains opposed to a permanent extension of tax cuts for the wealthiest Americans, something strongly favored by Republicans. He says it is critical for Congress to resolve the issue before the end of the year.
Oct. 22, 2010 at 10:32 a.m.
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Filed under: China, Economy, International, Policy, Politics, Trade U.S. plan hits G20 headwinds
The United States struggled on Friday to win backing for its proposal of setting numerical targets for external imbalances as a way of pressing surplus countries such as China to let their exchange rates rise.
In a letter to fellow finance ministers of the Group of 20 leading economies, U.S. Treasury Secretary Timothy Geithner said countries should implement policies to reduce their current account imbalances below a specified share of national output. Get the full story »
Oct. 15, 2010 at 11:10 a.m.
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Filed under: China, Economy, International, Policy, Politics, Trade U.S. to judge China yuan policy as election nears
The Obama administration faces a tough call Friday whether to label China a currency manipulator, a move long demanded by many U.S. lawmakers but also a potentially big wrench in an important relationship. Get the full story »
U.S.: Markets must be allowed to drive currencies
Failure by global institutions to make a coordinated push to persuade countries such as China to let their currencies’ value rise would endanger the global economy, U.S. Treasury Secretary Timothy Geithner said Wednesday. Get the full story »
Boehner: Obama economic team should resign
U.S. House Republican leader John Boehner Tuesday called for the resignation of President Barack Obama’s economic team, including Treasury Secretary Timothy Geithner and White House economic adviser Larry Summers. Boehner, in the text of a speech to be given in Cleveland, called for a “fresh start” on the economy. Get the full story »
Geithner: Tax cuts for rich a ‘fiscal mistake’
Treasury Secretary Tim Geithner is expected Wednesday to back the idea of letting tax cuts for the wealthiest Americans lapse as a step toward getting the nation’s fiscal house in order.
“Borrowing to finance tax cuts for the top 2 percent would be a $700 billion fiscal mistake,“ Geithner is expected to say, according to released excerpts of his prepared remarks before the Center for American Progress in Washington. “It’s not the prescription the economy needs right now, and the country can’t afford it.“ Get the full story »
Geithner: Unemployment could go higher
U.S. Treasury Secretary Timothy Geithner on Tuesday said the unemployment rate could rise for a couple of months before it goes down. “It’s possible you’re going to have a couple of months where it goes up,” he said on ABC’s “Good Morning America” show. “But what we expect to see … is an economy that’s gradually healing, of course we want to do what we can to reinforce that process.” Get the full story »
Geithner aims to calm Wall Street on finance rules
U.S. Treasury Secretary Timothy Geithner on Monday promised not to swamp Wall Street with red tape and vowed to move quickly to put in place new rules for the financial marketplace to dispel uncertainty. Get the full story »
Fight brewing over expiring tax cuts
The Obama administration will allow tax cuts for the wealthiest Americans to expire on schedule, Treasury Secretary Timothy Geithner said Thursday, setting up a clash with Republicans and a small but vocal group of Democrats who want to delay the looming tax increases.
Geithner said the White House would allow taxes on top earners to increase in 2011 as part of an effort to bring down the U.S. budget deficit. He said the White House plans to extend expiring tax cuts for middle- and lower-income Americans, and expects to undertake a broader revision of the tax code next year. Get the full story »
Geithner: World economy needs yuan reform
Reuters | U.S. Treasury Secretary Timothy Geithner said on Thursday that reform of China’s exchange rate is “critically important” to the U.S. and global economies, and that a more flexile yuan was in China’s interest.
